Hi Luxusburger,
Based on the statement Bougainville Copper has made, does this calculation make sense?
Still reserves of approx. 1bn metric tons of ore with copper at grade of 0.33% and gold at 0.37 grams per ton.
Based on 400m shares this equals 2.5 tons per share. Given the grades I come up with 8.25kg copper per share resp. 0.925g Gold per share. Given current market prices of USD 935/Oz for gold and USD 3,470/t for copper I end up with USD 28.62 per share for copper and USD 27.75 per share for gold. Makes all in all USD 56.37 per share or AUD 85.4 per share.
Certainly that is before production costs and will be produced over 30ys time and the mine still is not open. But why is that damn share trading at less than 1% of reserves? Is my back of the envelope calculation wrong? Thought as a rule of thumb 10% is more realistic. Where is the catch?
untold riches , page-2
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